The state attorney general of New York has recommended that Donald Trump and his co-defendants in a massive civil lawsuit that alleges years of fraud inside his real estate enterprise be ordered to pay more than $370 million and be permanently disqualified from doing business in the state.
The 44-Day Trial
The arguments made by Attorney General Letitia James against the former President and his top aides, who were set to go on trial for 44 days as a result of her groundbreaking lawsuit against them, as well as the arguments made by Trump’s attorneys are summarized in a number of lengthy final briefs that were filed with the Supreme Court of New York County on Friday.
The “Corporate Death Penalty” Against Trump
One week prior to the case’s final arguments, the filings are received. By the end of January, Judge Arthur Engoron is anticipated to render a ruling. The breakup of Trump’s real estate enterprise in New York was essentially mandated by the judge’s pretrial judgment, which the former President has called the “corporate death penalty” against him. While the lower Manhattan trial was ongoing, the order was placed on hold awaiting an appeal.
“Lifetime Injunctions” Barring Trump From the Real Estate Industry
“Lifetime injunctions” that prohibit Trump and former Trump Organization executives Allen Weisselberg and Jeffrey McConney from “participating in the real estate industry in New York State or from serving as an officer or director of any New York corporation or other legal entity are necessary and appropriate” were among the additional sanctions that James’s office added to her request on Friday.
Evidence Against Trump Is Clearly “Conclusive”
The brief states that the evidence gathered by her office, expert witness testimony, and testimony from Trump in court, together with his adult sons and co-defendants Donald Trump Jr. and Eric Jr., is “conclusive.”
The Conspiracy to Issue False Financial Statements
The evidence establishes “numerous overt acts by Weisselberg, McConney, Trump, Donald Trump Jr., and Eric Trump in furtherance of the conspiracy to falsify business records and the conspiracy to issue false financial statements,” the brief claims.
The Documents at the Heart of the Case
To obtain favorable financing arrangements for some of his star properties, Trump and his co-defendants are accused in James’s complaint of cheating banks and other financial institutions by misrepresenting their net worth and assets on yearly statements of financial circumstances, which are the primary papers in the case.
“Ill-Gotten Gains”
A trial will be held to ascertain the defendants’ debt and the outcome of the attorney general’s six additional claims against them, which include insurance fraud and conspiracy, after Judge Engoron’s preliminary ruling finding them accountable for fraud. James first demanded $250 million in alleged “ill-gotten gains” that Trump and other individuals had reaped from advantageous financing conditions.
Deutsche Bank Lost Tens of Millions of Dollars in Interest
A renowned financial expert witness testified that Deutsche Bank, the former President’s primary lender, lost tens of millions of dollars in interest that lenders would have earned if they had based those terms on financial documents accurately representing Trump’s net worth. This testimony is the basis for her new figure in the sanctions unveiled on Friday.
Defendants Reaped Hundreds of Millions of Dollars in Ill-Gotten Gains
The petition from James’s office states that “Defendants reaped hundreds of millions of dollars in ill-gotten gains through their unlawful conduct.” The attorney general’s office said that “that misconduct occurred on the watch” of Donald Trump Jr. and Eric Trump, the current leaders of the Trump Organization, “who perpetuated the scheme” to falsify those financial papers.
Weisselberg and McConney “Confessed to Committing Multiple Acts Relating to Tax Fraud”
The business’s controller McConney and then-chief financial officer Weisselberg “confessed to committing multiple acts relating to tax fraud, and a jury convicted the company for that same criminal conduct,” all of which happened “on their watch.”
Rewarded “With Lucrative Severance Packages”
The attorney general’s office claims that instead of promptly terminating their employment, they were rewarded “with lucrative severance packages that restricted their ability to cooperate with law enforcement investigations” and were permitted to stay on the payroll.
An Independent Monitor “To Closely Oversee the Company”
In addition to requesting that an impartial monitor “closely oversee the company for at least the next five years” be appointed, James’s office has also requested the judge “to impose statewide permanent industry bars” on Trump, Weisselberg, and McConney, as well as five-year bans on Eric Trump and Donald Trump Jr.
Trump & Sons Didn’t Have “Anything More Than a Peripheral Knowledge” About Fraudulent Financial Statements
The Trump family’s counsel filed a document claiming that the trial did not demonstrate that Trump or his sons “had anything more than a peripheral knowledge or involvement in the creation, preparation, or use” of those purportedly false financial situation statements.
James’s Office “Has Woefully Failed to Prove Her Case”
Clifford Robert, an attorney, filed a petition saying, “Accordingly, the court should render judgment in favor of Donald Trump, Jr. and Eric Trump, dismissing this action against them in its entirety.” Defendants’ counsel contended that James’s office “has woefully failed to prove her case and is not entitled to any of the relief sought in this action.”
Any Misstatements Are Just Accidental Errors
Accounting errors are a common occurrence. However, if they do not point to fraudulent activity such as concealment, falsification, or deception, there is no way to know that the financial status statements are false and that any faults in the statements are simply unintentional, according to legal counsel.
Trump’s Heavy Use of Media to Rage Against the Case
The lawsuit is one of several that Trump must contend with to secure the Republican nominee for president. It specifically attacks the narrative that first shaped his political persona—that of his financial success. Trump has sat with his counsel for numerous days of the trial; he is not required to attend any of the hearings. In addition, he has vented his frustrations at the case, his political rivals, the judge, the attorney general, witnesses, and court employees in front of TV cameras positioned outside the court’s doors.
Judge Engoron’s Use of Two Gag Orders Against Trump
Following threats of violence sent against the lower Manhattan courtroom by Trump and his counsel, Judge Engoron issued two gag orders in the case. A state appeals court subsequently upheld the restrictions.
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